By Larry Markson
1. How many square feet?
a. Rentable - Outside dimensions of the space, which may include some
b. Usable - Internal dimensions of your actual working space. We recommend
you start with between 1000 and 1200 square feet.
2. How many dollars per square foot?
3. Is the landlord willing to give you a "concession" (free
rent from the time you sign the lease until you actually open)? We recommend
a minimum of 60-90 days, depending, of course, on current real estate values
(demand and supply).
4. Is the landlord willing to give you a graduated lease? That means
lower rent for the first two years, and increases with the term of lease.
5. Who pays for heat?
6. Who pays for electric?
7. What time do the heat and electric get turned off, and are they on
or available over the weekends?
8. Can you have full 24 hour access, 7 days per week?
9. Can you install an x-ray unit?
10. Is there a 220 volt electric service existing, and how far is it
from your potential space?
11. Is your office visible from the street?
12. Is there adequate lighting outside and in common hallways?
13. Is there sufficient parking for your patients?
SIGNING A LEASE
NEVER SIGN A LEASE WITHOUT FIRST HAVING YOUR LICENSE
TO PRACTICE, OR BEFORE YOU SECURE A COMMITMENT FOR THE CAPITAL NECESSARY
The following are some suggestions and guidelines as to provisions that
need to be negotiated and/or included in your lease*:
1. Five year lease with five year option.
2. A reasonable sublet clause MUST be included in the lease (e.g. "the
right to assign or sublet cannot be unreasonably withheld"). Without a
clause like this, we suggest you do not rent this particular space.
3. Does the lease have a yearly escalation clause tied to the Consumer
Price Index (C.P.I.)? If so, we suggest you negotiate a flat rate for 2
years and then an escalation cap of 6% for each additional year (or as
low as you can).
4. Two months security is customary on professional space, however,
we recommend that you negotiate the security down to only one month.
5. The right to have an x-ray unit installed and operating according
to Health Department Code needs to be written into the lease.
6. Permission to gain 24 hour, 7 day a week access to the office also
needs to be in writing.
7. The right to display professional signs or shingles (specify number
of signs, sizes and locations).
8. Have the landlord specify the number of parking spaces to be assigned
*We highly recommend that you retain an attorney to review the lease.
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